HOUSTON — Henry S. Miller Brokerage has arranged the sale of the Campbell Road Shopping Center in the Northwest Spring Valley suburb of Houston on behalf of W&B International. The 46,224-square-foot property is situated on 1.06 acres at 1012 Campbell Road. Bruce Jester of Henry S. Miller represented the seller. Matthew Goldsby of Belovoir Real Estate Group LLC represented the buyer, Dr. Suhyun Ahn of C1 Health Care Management LLC, who plans to convert the center to a chiropractic clinic.
Texas
LEWISVILLE, TEXAS — The Weitzman Group and Cencor Realty Services have arranged a lease for the first Dallas/Fort Worth metro area location of WinCo, a Boise, Idaho-based discount grocery chain. The store will occupy 85,000 square feet at the Old Orchard Village East shopping center in Lewisville, which will undergo extensive renovations in conjunction with the new tenant’s arrival. Old Orchard Village East was originally anchored by Walmart after its development in the 1970s. Current tenants include Hancock Fabrics, The Leather Sofa Co., Fuzzy’s Taco Shop and more. Matt Luedtke and Blake Shipp of the Weitzman Group, along with Cencor’s David McNeil, represented property owner Old Orchard LLC in the negotiations. Don Woodbury of DWC Commercial and McGregor Converse of Venture Commercial represented WinCo.
IRVING, TEXAS — CBRE has arranged a 45,583-square-foot lease in the Irving submarket of Las Colinas for Neovia Logistics Services, which will relocate its headquarters from Illinois to this facility. Neovia, which provides supply chain solutions in various industrial, manufacturing and healthcare sectors, announces the move less than a year after its rebranding from Caterpillar Logistics Services. The tenant will partner with architecture firm Perkins + Will to customize and build-out the space, which is located at 6363 N. State Highway 161. Josh White and Chelby Sanders of CBRE represented Neovia in the lease negotiations.
The Austin industrial market is comprised of 37.2 million square feet, representing investment-grade buildings that are not owner-occupied and larger than 20,000 square feet. While that may seem like a smaller tertiary market in terms of square footage, Austin has proven to be a dynamic market, attracting interest and commitments from both creditworthy tenants and high-profile investors. As of mid-year 2013, Austin’s industrial market is 12 percent vacant and trending in the right direction with positive absorption of 215,000 square feet, according to NAI REOC. There was no new notable construction from 2010 to 2012, which helped vacancy rates decrease as existing tenants expanded and new tenants entered the market. The recovery was highlighted by positive absorption of more than 2 million square feet during 2012. While some of the absorption was associated with short-term warehousing needs for Samsung’s $3.6 billion expansion of its semiconductor fabrication plant in northeast Austin, the market reached a state of equilibrium. As the market stabilized, investment sales activity increased with institutional capital acting as a major player. In the past 18 months, several noteworthy transactions took place including: – Karlin Real Estate purchased three former Dell facilities totaling more than 900,000 square feet; 297.9 …
HORSESHOE BAY, TEXAS — Henry S. Miller Brokerage has arranged the sale of Baycliff Apartments, a 25-unit multifamily property in Horseshoe Bay, approximately 50 miles northwest of Austin. The complex features a lighted tennis court, swimming pool, tanning deck and putting green as well as 10 vacant multifamily lots for future expansion. The team of Lew Wood, Andrew Doster and Darden Orand of Henry S. Miller assisted the owner, Baycliff Ltd., in the disposition of the property to local investor Baycliff Apartments LLC.
HOUSTON — NAI Houston has arranged the lease of a 45,000-square-foot build-to-suit data center in Houston for TGS-Nopec, a data provider serving the oil and gas industry. The facility is part of Datacenter Park, a 300,000-square-foot master-planned development that includes three build-to-suit data centers at 12235 North Freeway in the Greenspoint submarket. NAI Houston’s Jon Silberman and Griff Bandy represented the tenant in the negotiations with designer/developer Digital Realty.
ALLEN, TEXAS — Landlord Chambers Street Properties has signed two companies to new leases for the warehouse property at 505 Century Parkway in Allen, a northern suburb of Dallas. Texas Valve & Fitting Company LLC, a developer and provider of fluid system components, will occupy a 22,400-square-foot space in the facility. Standex International Corp., a manufacturer across multiple industries including food services and hydraulics, will occupy a 33,144-square-foot space. These leases bring the 505 Century property to 100 percent occupancy.
HOUSTON — Real estate advisor DTZ represented law firm Ogletree, Deakins, Nash, Smoak & Stuart P.C. (Ogletree Deakins) in a renewal and expansion of its lease in One Allen Center, a downtown Houston office building located at 500 Dallas Street. The firm, which previously occupied 18,745 square feet of the property, will now occupy 22,515 square feet on the 30th floor. Thomas McKenzie and William Wolff, DTZ senior vice presidents, represented the tenant in the negotiations, while owner Brookfield Properties was self-represented by Paul Frazier and Margaret Sigur of Brookfield Properties. Ogletree Deakins, which specializes in labor and employment law, was founded in 1977 and operates offices in more than 40 cities. The firm opened its Houston office in 1996.
HOUSTON — Trammell Crow Residential and Prime Property Investors will break ground Friday, Sept. 6 on a garden-style apartment property called Alexan at Auburn Lakes in The Woodlands submarket of Houston. The development will consist of 256 one-bedroom, one-bath units and 90 two-bedroom, two-bathroom units. Amenities include a clubhouse with business center, kitchen, billiards and fitness center, as well as a private lake and a fully fenced dog park. The 12.5-acre site of Alexan at Auburn Lakes is located at West Rayford and Gosling roads, in close proximity to a future campus of ExxonMobil.
DENTON, TEXAS — GCC McCarthy Joint Venture II, a collaboration of mentor McCarthy Building Cos. Inc. and protégé GCC Enterprises Inc., has completed construction of the $12 million Army Reserve Center (ARC) in Denton, located approximately 40 miles north of Fort Worth. The project, which originally broke ground in April 2012, includes a 37,000-square-foot administrative and training center, an operational maintenance shop, storage buildings and support facilities. Professional Engineering Consultants and GLMV Architecture designed the ARC for LEED Silver certification. Construction was administered by the United States Army Corps of Engineers, Fort Worth District.